Corrosion Innovations, LLC, a leading global player in the corrosion-prevention industry, announced on March 16, 2023, that it has acquired the ChlorRid™ product line from Milliken & Company, a major player in the coatings additives business.
The ChlorRid™ product line includes surface decontamination, passivation products, and salt testing kits for soluble salt detection and removal.
According to Archie Cox, Jr., Chairman of the Board for Corrosion Innovations, “ChlorRid™ has been a staple of the industry for over 30 years and was a strategic target of ours from day one.” Marlin Lester, CEO of Corrosion Innovations, added that “our team of AMPP-certified subject matter experts is ready to integrate ChlorRid™ into our market-leading business and provide a synergistic approach to soluble salt removal and testing in the industry.”
Corrosion Innovations plans to invest in inventory to offset any supply chain disruptions and will seek continuous improvement and customer feedback to ensure seamless integration of Chlor*Rid™ into its product line. The company is excited about the acquisition and expects exponential growth in the second quarter.
Matt Valentine, Corrosion Innovations’ new Director of Sales and long-term employee of ChlorRid™ Products, expressed confidence that the company will continue to provide the same level of service that its customers have come to expect. Meanwhile, Gregg Taney, President of Corrosion Innovations, emphasized the importance of the strong distribution network that the company has combined with ChlorRid™, stating that “we will not follow suit with competitors with eCommerce as this does nothing but undermine the people that are out selling your products with boots on the ground.”
Milliken & Company decided to divest its Chlor*Rid™ line because it no longer aligned with the company’s overall coating additives business strategy. However, Milliken will continue to serve the coating additives market with its diverse portfolio, which includes Borchers: A Milliken Brand—a global leader in performance additives for the coatings, inks, and adhesives markets.
Legal advisor Robinson, Bradshaw & Hinson, P.A. acted on behalf of Milliken, while Corrosion Innovations was represented by legal advisor Ice Miller LLP.